Yaounde, Cameroon Africa. (Cameroon News) – Cameroon’s National Hydrocarbons Corporation (SNH), a state company specialized in the hydrocarbons sector, has contributed FCFA 225.28 billion to the country’s 2011 budget in the first semester of the fiscal year, a press release from the corporation declared.

“The FCFA 225.28 billion transferred by the National Hydrocarbons Corporation to the public treasury as contribution to the 2011 State budget as of April 30, is far much higher than the original forecast of FCFA 130.54 billion”, the release from the SNH Board of Directors meeting of June 7, 2011 further states.

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The board meeting was chaired by its chairman, Minister of State, Secretary General at the Presidency of the Republic, Laurent Esso.

The Executive General Manager of the hydrocarbons corporation, Adolphe Moudiki, in presenting the first semester report for the fiscal year 2011, stated that the favourable international situation enabled the SNH to increase its turn over despite the reduction in the quantity of crude oil it sold on behalf of government which stood at 4004.326 barrels from January to April 2011.

The SNH, the release disclosed, achieved an average selling price of 105. 53 US Dollar per barrel between January and April 2011.

The National Hydrocarbons Corporation is drilling the first-ever exploration well in the Logone Bernie Basin in Far North Cameroon since April 27, as well as three other exploration wells in the Douala-Kribi- Campo Basin.